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Tuesday, January 29, 2013

DJIA: Any Time Now

Last week, with the DJIA at 13,866, we took a look at the potential for a double-top and a Dow Theory non-confirmation with the Transports [see: The Dow - Time to Double Down.]

Critical levels included the rising wedge upper bound, not to mention a whole slew of approaching Harmonic targets.

Don't look now, but DJIA is only a few points away from tagging the upper bound of the rising wedge, the 2.24 of a Crab Pattern (in white below), and the 1.272 of a Butterfly Pattern (red.)

The double-top up at 14,198 and some larger Harmonic patterns (14,145-14,201) are still a possibility, but this balloon looks ready to pop. combines Harmonic Patterns with traditional chart patterns and technical analysis.  For more on our process and results, visit